According to FutureWise analysis the market for Intracranial pressure monitoring in 2023 is US$ 1.69 billion, and is expected to reach US$ 3.12 billion by 2031 at a CAGR of 8.02%.
Intracranial pressure (ICP) being a function of the volume and compliance of each component of the intracranial compartment, to keep it in simple terms, the skull is a semi rigid box, consisting of the brain, blood and cerebrospinal fluid (CSF), lightly stuffed inside to create a mildly positive pressure, known as the Intracranial pressure(ICP). There are types of monitoring techniques includes invasive and non-invasive. Invasive techniques consist of Lumbar Puncture and non-invasive contains imaging modalities like MRI, Transcranial Doppler ultrasonography, tympanic membrane displacement and optic nerve sheath diameter.
Increasing importance of intracranial pressure monitoring devices in prevention of permanent neurological damage led to robust growth of the market. Elevated intracranial pressure is mostly observed in intracranial tumours, hydrocephalus, head trauma, encephalopathies and others. Increasing prevalence of elevated intracranial pressure associated brain disorders fuelled the growth of the market. Further, the rapid advancement of technologies led to the evolution of multiple modality devices and increased the scope of monitoring devices. Monitoring of intracranial pressure is paramount importance in the prevention of neurological damage and death. Because of this, healthcare systems made it mandatory for continuous monitoring of intracranial pressure in the patient population. All these factors led to the potential growth of the market during the forecast period.
Global market is dominated by developed economies like North America and Europe regions. North America accounts major share in global market due to well established health care systems and reimbursement policies. Europe is the second dominant region in global market due to high adoption of monitoring devices among the end user segment. The Asia Pacific is a fast growing region due to increasing penetration. Further, changing economic conditions and increasing healthcare budgets led to robust growth of the market. Latin America and rest of world represents a small fraction of market share in the global market due to weak healthcare policies.